Real estate brokers and agents usually design elaborate-looking marketing plans for sellers, oftentimes making it seem much more complex than it actually is to find a buyer. Why they do this in my opinion is to make 1) the transaction seem more complicated 2) to justify their fee. As a newer agent in the past, I have actually witnessed these comments by brokers as part of their training.
Signs, open houses, talking houses, just listed postcards, relo, websites, virtual tours, broker open houses, office caravan, Realtor.com, newspaper, cd’s of virtual tours, property flyers, professional brochures, brochure boxes, homes magazines, and of course all the noise agent smake about how many agents and how many offices they have. So?
But when it comes down to it, your home will sell usually, 90%+ of the time, from just 3 sources:
1. Signs (for sale, open house, etc.).
2. Internet (Realtor.com, broker site).
3. Your friend (who saw the sign) or agent telling you about the new listing.
Don’t be fooled into thinking the “other stuff” has much value. While the intention may be to give you “marketing support”, and as a seller you may really like the idea of 20 agents coming in your home for “caravan” to preview your property, most of these agents will never be seen by you again. Maybe at the grocery store.
I met with a potential seller on Friday and he seemed stunned when I told him I have not done newspaper advertising for the past 2+ years. (Newspaper ads accounted for 3% of my inquiries, a waste of time and money) I asked him how he found his house 3 years ago when he bought it. His response was “I drove through the neighborhood and saw the sign.” I told him I was not surprised, as more than 50% of all homes sell that way.
Nothing beats a listing which is properly priced for today’s market which shows nice, clean and is staged. All the ineffective marketing in the world can’t change the value of an overpriced listing.